Concentrated Photovoltaic Market Size, Share, Status, Growth Insights, Challenges And Forecast To 2023

Concentrated Photovoltaic Market

Press Release

A concentrated photovoltaic (CPV) is a technology that transforms the sunlight into electrical energy in the same way the conventional photovoltaic technology does. The optical concentrators are used to harvest the sunlight from a widespread area and focus it directly onto a small area covered by PV cells. This helps increase the intensity of the light reaching the PV cells, and hence increases the amount of power the cells can produce. Growing investment in renewable energy, across the globe is the major factor driving the growth of the market. Increasing population, flourishing industries in emerging economies, and a rise in infrastructure development activities are all leading to an enormous rise in demand for electricity. This factor, along with the rise in stringent environment protection regulations across the globe, forces the power generation industry to shift to cleaner and environment-friendly energy resources.

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Competitive Landscape

The major players adopted several strategies to retain or expand their market share. The key strategy followed by most companies within the global concentrator photovoltaic (CPV) market was that of mergers & acquisitions, followed by partnership & collaboration.

Prominent Players:

The key players of global concentrated photovoltaic (CPV) market are Radical Sun Systems, Inc. (U.S.), SolAero Technologies Corp. (U.S.), Arzon Solar LLC. (U.S.), Cool Earth Solar (U.S.), Morgan Solar Inc. (Canada), ARIMA Group (Taiwan), Suncore Photovoltaic Technology Company Limited (China), and Guangdong Redsolar Photovoltaic Technology Co. Ltd (China). Sumitomo Electric Industries, Ltd. (Japan), Saint-Augustin Canada Electric Inc. (STACE) (Canada), Sanan Optoelectronics Technology Co., Ltd (China), Suntrix Company Ltd (China), and Macsun Solar Energy Technology Co., Ltd. (China), are among others.

Segmental Analysis:

The global concentrated photovoltaic (CPV) market is segmented by type, application and region.

Global Concentrated Photovoltaic (CPV) Market, By Type

  • High Concentrated Photovoltaic (HCPV)
  • Low Concentrated Photovoltaic (LCPV)

Global Concentrated Photovoltaic (CPV) Market, By Application

  • Commercial
  • Utilities

Global Concentrated Photovoltaic (CPV) Market, By Region

  • Americas
  • Europe
  • Asia Pacific
  • Middle East & Africa

Industry Related News:

Saint-Augustin Canada Electric Inc. (STACE), a major supplier of large electrical equipment in the power generation industry announced the acquisition of Soitec’s Concentrated Photovoltaic (CPV) System technology. This acquisition helped the company increase their presence in the renewable industry and complete their offering in the solar energy market.

EnerTech signed a strategic investment and partnership agreement with Morgan Solar Inc. Under the agreement, EnerTech has planned to invest in MSI, and transferring solar concentrated photovoltaic technology to Kuwait and the Middle East region.

In December 2017 Silfab Solar Inc., has formed a joint venture with Morgan Solar Inc., to develop and produce a disruptive low-cost PV module, designed specifically for large commercial and utility-scale projects. This JV brings two of the most innovative and technologically innovative companies in the solar industry, to share their knowledge and experience to produce great quantities of high quality photovoltaic modules at internationally competitive costs.

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List Of Figures

Figure 1 Global Concentrated Photovoltaic Market: Market Structure

Figure 2 Research Process Of MRFR

Figure 3 Top Down & Bottom Up Approach

Figure 4 Droc Analysis: Global Concentrated Photovoltaic Market

Figure 5 Porter’s Five Forces Analysis: Concentrated Photovoltaic (CPV) Market

Figure 6 Supply Chain Analysis: Concentrated Photovoltaic (CPV) Market

Figure 7 Global Concentrated Photovoltaic Installed Capacity, 2014-2023 (Mw)


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